USD continues to rise as the marketing awaiting the non-farm payrolls, ECB and BoE both pushed back rate hikes

USD seems to be on course for a second straight week of gains today, as investors await the latest non-farm payrolls which are due later in the day. Economists have forecasted 450k jobs to have been added in October, following a disappointing 194k in September. DXY Index currently trades at 94.343 at press time.

In Eurozone, ECB President Christine Lagarde pushed back the rate hike schedule, which was largely expected to happen next October. The comment was that a rate hike would be highly unlikely to occur in 2022. EURUSD currently trades at 1.1554, staying mostly flat. In England, BoE did not deliver a rate hike as well, even though the market had been expecting a more hawkish stance. Lack of rate cut has sent GBP to its lowest level since October 1.